Know The Affordability Barrier
This fine line can mean the difference between no sales and big ones. Most products fail in testing, and that is exactly why it is done.
Inventor Resources
Under the Influence
As the rise of social media as part of a cohesive digital marketing strategy creates opportunities for inventors and entrepreneurs to showcase innovative products online, one of the most effective tactics is collaborating with social media influencers.
Finding Opportunities
Even in winning categories, some products are better than others. Here are some ways to help you to a winning formula. These principles apply across the board—whether you are looking to produce your own product, license it to a manufacturer, or strike a joint venture deal of some kind.
Get Automated, Save Time
Marketing sometimes inadvertently takes a back seat to the excitement of creating a groundbreaking product. Because many of us have limited time and resources to devote to all aspects of product development, marketing efforts can become sporadic or inconsistent, hindering an invention’s potential success.
Utility Patent Options, Alternatives
Many of the patent rules are subtle and cause amateurs (including me) to lose a large chunk of the patent’s strength and value if we prepare a patent on our own.
Pitching to a New Industry
Is it worth the time? What has worked before? What will have to change? I look into factors such as demand, market size, manufacturability, cost and trends. I also do an extra layer of evaluation.
Evolutionary Vs. Revolutionary
Evolutionary and revolutionary product development define how companies improve existing products, introduce new products and innovate. Both approaches have their advantages and drawbacks.
We Have Liftoff!
This can be a nervy time for the inventor: the real test of whether the device can stand on its own in the marketplace, and whether people want to buy it. Because the launch has such high consequences, you must take the utmost care in preparation to ensure you have everything right.
4 at the Core
I have seen inventors with amazing products that never made it to market. The No. 1 reason is that they gave up too soon. Besides a few obvious character traits, these others are consistent in successful inventors.
Fantasy Island
Grenada innovation workshop was memorable for beautiful innovation, people and scenery. Once the sample projects were completed, teams had the afternoon to use the parts to build their own prototypes and work on their digital prototypes.
Your Strategy Launchpad
As innovative products continue to emerge, what are some of the ways for inventors to reach a wider audience for effectively launching their inventions?
A Tangled Lesson for All
Woman’s inventing experience reveals production, design and expense challenges. After your first year or two, when sales appear to be at their peak, approach manufacturers who have a product line in which your product would fit.